According to the most recent observation from the end of October (“ASTON MARTIN – Mercedes-Benz expands its stake”), the share fell again below the EMA50 in the daily chart, but then brought about the next wave of buying that was clearly favored.
How is the current chart situation to be assessed?
The shares of the British sports car manufacturer were able to overcome the October high on November 10 and then consolidated. At the start of the week, the share climbed to its highest level since August.
From a technical chart perspective, the way is clear for a continuation of the current buying wave. The next target on the upside is around the midway high from the summer in the £ 0.78-0.80 range.
The area around 0.63 / 64 GBP acts as short-term technical support, at the latest when the EMA50 in the daily chart is undercut again at 0.56 GBP, the preferred upward scenario would have to be put on record. It doesn’t look like that at the moment – the cops are currently at the helm.
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Aston Martin share (chart analysis daily chart)
(© GodmodeTrader 2020 – Author: Henry Philippson, Technical Analyst)
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